AEye (NASDAQ:LIDR) Trading Down 3.1% - Should You Sell?

Key Points

• AEye, Inc. (NASDAQ:LIDR) experienced a 3.1% decline in stock price, trading as low as $2.60, with a significant drop in trading volume down to 1.94 million shares.
• The company received a revised rating from Wall Street Zen, changing its status from a "hold" to a "sell" as of August 2nd.
• Institutional investors own approximately 21.58% of AEye’s stock, with several hedge funds recently adjusting their positions in the company.

AEye, Inc. (NASDAQ:LIDR - Get Free Report) fell 3.1% during mid-day trading on Thursday . The stock traded as low as $2.60 and last traded at $2.65. 1,940,142 shares were traded during trading, a decline of 77% from the average session volume of 8,261,114 shares. The stock had previously closed at $2.73.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of AEye from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd.

AEye Stock Performance

The firm's 50 day moving average price is $1.60 and its two-hundred day moving average price is $1.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 1.93. The firm has a market cap of $50.68 million, a PE ratio of -0.92 and a beta of 3.00.

Institutional Trading of AEye

Several hedge funds have recently made changes to their positions in the company. Thompson Davis & CO. Inc. purchased a new stake in shares of AEye in the 2nd quarter valued at approximately $34,000. Geode Capital Management LLC grew its stake in shares of AEye by 6.8% in the 2nd quarter. Geode Capital Management LLC now owns 108,323 shares of the company's stock valued at $112,000 after buying an additional 6,873 shares during the period. Two Sigma Investments LP grew its stake in shares of AEye by 462.0% in the 4th quarter. Two Sigma Investments LP now owns 74,736 shares of the company's stock valued at $95,000 after buying an additional 61,437 shares during the period. Millennium Management LLC purchased a new position in shares of AEye during the 4th quarter worth approximately $32,000. Finally, Citadel Advisors LLC purchased a new position in shares of AEye during the 4th quarter worth approximately $92,000. Hedge funds and other institutional investors own 21.58% of the company's stock.

About AEye

AEye, Inc, together with its subsidiaries, provides lidar systems for vehicle autonomy, advanced driver-assistance systems, and robotic vision applications in the United States, Europe, and Asia-Pacific. It offers 4Sight intelligent sensing lidar platform, including 4Sight at Design, Triggered 4Sight, Responsive 4Sight, and Predictive 4Sight; and 4Sight for automotive and industrial market.

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